Gold futures rise on Monday as the dollar pulls back.
Gold futures edged higher Monday, finding support as the U.S. dollar weakened and investors looked ahead to this week’s key consumer-price index reading for August.
The dollar’s bounce took a respite Monday, however, as the Japanese yen USDJPY, -1.06% surged following remarks by Bank of Japan Gov. Kazuo Ueda, who hinted that the country’s long-running negative interest rate policy could be nearing an end. “At the moment, the market has shifted tone towards expecting the U.S. dollar to remain as the best friend of investors for the rest of 2023, which does suggest on headline that the upside in gold is limited,” he said in emailed commentary.
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